Aveanna Healthcare (NASDAQ:AVAH) Shares Down 10% – Here’s What Happened

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH)’s share price fell 10% during mid-day trading on Thursday . The company traded as low as $5.93 and last traded at $6.2180. 401,297 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 1,157,270 shares. The stock had previously closed at $6.91.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AVAH. Barclays boosted their price objective on shares of Aveanna Healthcare from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Aveanna Healthcare in a report on Monday, December 29th. Truist Financial set a $10.00 price target on shares of Aveanna Healthcare in a report on Thursday, March 12th. Zacks Research downgraded Aveanna Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, Royal Bank Of Canada boosted their target price on Aveanna Healthcare from $10.00 to $11.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 15th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Aveanna Healthcare currently has an average rating of “Hold” and a consensus target price of $11.06.

Aveanna Healthcare Trading Down 9.8%

The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 140.39. The firm has a market capitalization of $1.30 billion, a P/E ratio of 17.31 and a beta of 2.07. The firm’s 50-day simple moving average is $7.93 and its 200-day simple moving average is $8.52.

Insider Activity at Aveanna Healthcare

In other news, insider Edwin C. Reisz sold 60,769 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $7.21, for a total value of $438,144.49. Following the completion of the sale, the insider owned 1,447,057 shares of the company’s stock, valued at approximately $10,433,280.97. The trade was a 4.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeff Shaner sold 173,225 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $7.21, for a total value of $1,248,952.25. Following the sale, the chief executive officer directly owned 2,650,892 shares of the company’s stock, valued at approximately $19,112,931.32. This trade represents a 6.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 998,595 shares of company stock valued at $7,567,770. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Aveanna Healthcare

Several institutional investors and hedge funds have recently bought and sold shares of AVAH. AQR Capital Management LLC grew its position in shares of Aveanna Healthcare by 21.2% in the 1st quarter. AQR Capital Management LLC now owns 26,280 shares of the company’s stock worth $142,000 after buying an additional 4,602 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Aveanna Healthcare by 8.3% in the first quarter. Goldman Sachs Group Inc. now owns 339,853 shares of the company’s stock worth $1,842,000 after acquiring an additional 25,974 shares during the period. Jane Street Group LLC boosted its holdings in Aveanna Healthcare by 522.0% in the first quarter. Jane Street Group LLC now owns 75,081 shares of the company’s stock valued at $407,000 after acquiring an additional 63,010 shares in the last quarter. Creative Planning increased its position in Aveanna Healthcare by 15.1% during the 2nd quarter. Creative Planning now owns 47,025 shares of the company’s stock valued at $246,000 after purchasing an additional 6,171 shares during the period. Finally, Intech Investment Management LLC increased its position in Aveanna Healthcare by 35.4% during the 2nd quarter. Intech Investment Management LLC now owns 24,718 shares of the company’s stock valued at $129,000 after purchasing an additional 6,469 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Aveanna Healthcare Company Profile

Aveanna Healthcare, Inc (NASDAQ: AVAH) is a national provider of in-home health care services, specializing in pediatric skilled nursing, therapy, and related support for medically complex and chronically ill children. The company delivers a range of clinical and therapeutic solutions designed to enable patients to receive care in the comfort of their own homes, reducing the need for hospital stays and long-term institutional care. Aveanna’s offerings include registered nursing, physical, occupational and speech therapy, behavioral health counseling, and durable medical equipment coordination.

In addition to pediatric home health services, Aveanna operates adult home health and personal care support programs, assisting elderly and disabled adults with daily living activities, medication management, and rehabilitation therapies.